A mortgage payable is often secured by collateral such as a building.

Name: A mortgage payable is often secured by collateral such as a building.
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A mortgage payable is a type of loan that is typically used to purchase real estate and is secured by collateral, which is often the property that is being purchased. The collateral provides security for the lender, as it can be sold to repay the loan if the borrower defaults on their payments.

A Mortgage Payable Is Often Secured by Collateral Such as a Building